GE Vernova (NYSE:GEV) Sets New 52-Week High Following Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $192.00 to $246.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Vernova traded as high as $236.20 and last traded at $236.20, with a volume of 913103 shares traded. The stock had previously closed at $229.93.

Several other equities analysts also recently weighed in on GEV. Hsbc Global Res upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Monday, August 12th. William Blair began coverage on shares of GE Vernova in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Daiwa Capital Markets began coverage on GE Vernova in a research report on Friday, June 21st. They set an “outperform” rating and a $201.50 target price on the stock. JPMorgan Chase & Co. lifted their price target on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.64.

Institutional Investors Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new position in GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova in the second quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in GE Vernova during the second quarter valued at about $26,000. Finally, Gradient Investments LLC purchased a new stake in GE Vernova during the second quarter valued at about $27,000.

GE Vernova Price Performance

The business has a 50 day moving average price of $185.43.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, equities analysts predict that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.